Chevron Corporation (NYSE:CVX) Given Consensus Rating of “Moderate Buy” by Brokerages

Chevron Corporation (NYSE:CVX) has been assigned a consensus rating of “Moderate Buy” from the twenty-five analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eighteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $207.4783.

Several analysts have recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. TD Cowen upped their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Piper Sandler assumed coverage on shares of Chevron in a report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price on the stock. Finally, Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, July 2nd.

Insider Activity at Chevron

In related news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the sale, the director directly owned 363,711 shares of the company’s stock, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,190,665 shares of company stock valued at $230,782,076 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chevron

A number of institutional investors and hedge funds have recently bought and sold shares of CVX. United Bank increased its holdings in Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. lifted its stake in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after acquiring an additional 4,214 shares during the period. BNP Paribas boosted its holdings in Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 191 shares during the last quarter. Osterweis Capital Management Inc. boosted its holdings in Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its position in Chevron by 3.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after purchasing an additional 553 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is being highlighted among S&P 500 companies expected to generate substantial free cash flow this year. Strong cash generation can support dividends, debt reduction and share repurchases. 9 Stocks’ Cash Flow Seen Blowing The Doors Off The S&P 500
• Positive Sentiment: Analysts remain constructive: TD Cowen raised its price target from $200 to $205 while maintaining a Hold rating, and separate reports cited bullish expectations from Bernstein and Barclays. TD Cowen price target report
• Positive Sentiment: Chevron’s recent second-quarter performance featured approximately $70.06 billion in revenue, $12.07 billion in net income, higher production and a maintained quarterly dividend of $1.78 per share. Higher energy prices and refining margins have boosted profitability. Should Chevron’s War-Boosted Margins and Cash Flows Prompt a Portfolio Rethink?
• Neutral Sentiment: Investment commentary continues to position Chevron as an attractive income stock because of its above-average dividend yield and relatively steady energy business. However, dividend-focused recommendations are generally longer-term and may not offset near-term political or commodity risks. 2 Energy Dividend Stocks to Buy in August for Steady Income
• Negative Sentiment: Director John B. Hess sold a combined 810,665 Chevron shares for roughly $157.4 million, reducing his holdings substantially. The large insider transaction may raise concerns about management confidence, even though it does not necessarily reflect Chevron’s operating outlook. Chevron SEC insider filing
• Negative Sentiment: President Donald Trump has criticized Chevron and ExxonMobil for earning large profits while U.S. gasoline prices remain elevated, increasing the risk of calls for lower prices, profit-sharing or other political intervention. Coverage also links Chevron’s stronger margins to war-related energy and refining conditions, which may prove temporary. Phillips 66 Says It’s the Third-Largest Buyer of Venezuelan Crude

Chevron Trading Down 2.1%

Shares of CVX stock opened at $186.48 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $371.40 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 0.59 and a beta of 0.49. The stock has a 50 day simple moving average of $182.18 and a 200 day simple moving average of $185.64. Chevron has a 1 year low of $146.49 and a 1 year high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.14% and a net margin of 9.57%.The company’s revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the company earned $1.77 EPS. On average, research analysts predict that Chevron will post 15.72 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron’s dividend payout ratio (DPR) is 68.26%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.